A new report on the compensation of chief executives at large public charities in Massachusetts describes payment arrangements as “complex,” with compensation of CEOs at 25 of the state's biggest non-profits ranging from $487,000 to $8.8 million over a three-year period: 2009 to 2011.
UMass Memorial Health Care (UMMHC) has signed a letter of intent to sell Wing Memorial Hospital and Medical Centers in Palmer to Springfield-based Baystate Health for an undisclosed sum, UMass Memorial said.
Moody's Investor Service has downgraded UMass Memorial Health Care's credit rating in light of deteriorating operating performance and a host of other factors over several years, according to the credit rating agency.
UMass Memorial Health Care is bracing for layoffs as well as other cost-cutting measures in the face of a projected $57-million operating loss for its recently completed fiscal year.
UMass Memorial Health Care is exploring potential “collaborative opportunities” with Springfield-based Baystate Health that could include clinical work, the Worcester-based health care system said today.
UMass Memorial Health Care and Attorney General Martha Coakley reached a settlement on fraud charges last month, in which the Worcester-based health care system agreed to pay the state $66,000 to settle allegations that it sent unpaid bills to a Worcester homeless shelter in order to collect reimbursements from the state.